About individual voluntary arrangements
A structured and flexible way to deal with debt
Take the pressure off with a clear payment plan
- Your IVA will be based on what you can realistically afford to pay
- We make sure you can still live comfortably while you make your payments
- Your payments cover all your IVA costs
- Your payments will be reviewed each year to make sure you still can afford them
- You can change or pause your payments if you need to
Fixed number of payments
Plan for your debt-free day
- IVAs usually last between 5 and 6 years. Your IP will explain this to you
- Once you have made all your payments, you will be debt-free
- You may be able to settle your debt early if you come into money
- You may also use assets, such as equity in your home, to repay what you owe
Reduce the debt burden
Lower the amount you owe or have to pay back
- Your creditors will agree to writing off some of your debt
- No more interest or charges can be added
Legal protection
No further action from your creditors
- Debt collection must stop when your IVA starts
- No more scary letters, emails or phone calls
- Your IP will deal with your creditors for you and manage your payments
- You can keep your assets, such as your home or car
Professional support throughout
We are with you until your IVA ends
- An expert team helps you set up your individual voluntary arrangement
- We are on hand until you complete your IVA
- We review your payment plan each year
- We will help you work out how to pay off your IVA more quickly – if this is what you want to do